What can we do for you?
Foreclosure Solutions to Avoid Foreclosure
We are affiliated with one of the premier loan modification companies in the
country. They have successfully modified hundreds of mortgages saving their
customers tens of thousands of dollars. They are affiliated with a reputable
law firm and are here to help you find a solution to your current predicament.
Did you know that you have rights under American law? Foreclosure is far from a
foregone conclusion. Our job is to give you a clear understanding of the
alternatives available to you.
Our experienced and dedicated counselors will work with you to find the solution
that suits your situation. At the same time, our affiliated loss mitigators
will negotiate with the bank for greater flexibility on your behalf.
We Are On Your Side!
We offer several options to accommodate your specific needs such as:
Repayment Plans
If you are more than 60 days behind in your mortgage payments
due to a short term financial setback, our loss mitigators will negotiate with
the bank to provide a special payment plan.
Loan Modifications
Our loss
mitigators will negotiate with the bank to modify your mortgage agreement by
extending the term of the loan (to reduce monthly payments) or by lowering the
rate of interest – or both.
FHA Mortgages
The program permanently reduces a family’s monthly mortgage payment through
the use of a partial claim, which defers the repayment of mortgage principal
through an interest-free subordinate mortgage that is not due until the
first mortgage is paid off.
FHA has used the partial claim option in the past, which allows a lender to
advance funds on behalf of a borrower, to reinstate a delinquent loan that
was up to 12 months delinquent. Now, this program will allow HUD to bring
the borrower’s payment down to an affordable level. This will be
accomplished by bringing the mortgage current, buying down the loan by up to
30 percent of the unpaid principal balance and deferring these amounts in a
partial claim.
This means that we can negotiate to take arrears and part of the principle
(up to 30% combined) and place it in an interest free subordinate mortgage
that does not have to be paid until the first is paid off. The interest will
not go down but payments can DRAMATICALLY be lowered through this process.
ALSO we have had success in extending the life of the loan up to 40 years.
Special Forbearance
If you are in arrears
of 3-12 months of mortgage payments due to short term financial hardship, you
may qualify. This option divides up the past due amount and tacks it on to 12-18
consecutive monthly mortgage payments. In some cases it may be spread out over a
more extended period of time.
Deed-in-Lieu of Foreclosure
If attempts to sell
your home have proven unsuccessful, you may qualify for a deed-in-lieu of
foreclosure. With this method your house is given to the bank in a "cash for
keys" exchange for cancellation of your mortgage.
Short Sales
It is in the
interest of the banks to avoid the cost and trouble of foreclosure. Thus in a
short sale or payoff, the bank agrees to receive a sum which falls "short" of
the amount of the loan. (There are tax ramifications and deficiency judgments
which could be to a homeowner's disadvantage - these need to be discussed.) Some
homeowners find selling their home to be the best way out of long term financial
difficulties. Should you choose to sell your home, we will do everything within
our power to save you from foreclosure. This will preserve your reputation and
protect your credit history.
To explore any of these foreclosure solutions
please fill in the form or click the 'Call Me' button (on the right) to be connected with
one of out helpful consultants (free of charge).
